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Citron is sorta bearish on $NVDA

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Citron out with a short note on $NVDA...but his target is approximately where the stock was less than ten trading days ago. He thinks the stock will be back at $90 sometime in 2017.

citron_tweet.png

I wouldn't be shock if $NVDA was back at $90 sometime in the next few months either. That's part of why we took a disciplined approach and trimmed some of our long last week.

Back to Citron, I shorted $VRX a few weeks before Citron came out with their short bet on $VRX and have had respect for some of their short calls on stocks like VRX, which is down more than 90% since I shorted it. But him coming out with a short-term swing trade based on a valuation difference of 15%. That seems silly -- the stock market can't pinpoint valuations of any particular growth stock to a 15% margin of error.

Here are just a few comments are subscribers are sharing about the post-Santa Claus rally and ringing in the New Year market-wise in the Chat Room.

  • Post Christmas blues, no more presents to open. OK, right or wrong, I always think of this time of year as an inflection point after seeing enough of them. There seems reason for a post new year hiccup surprise like last year ...not as deep. Many are still looking for an opportunity in?
  • Last year, we ended the so-called Santa Claus rally time slightly down. We entered the new year with red futures and more the 10% decline, not that we base our decisions on that but it is something I am hedged for just in case.
  • A little more cash / hedge in the next couple days for me. Holidays, even weekends, during controversy can be a catalyst.
  • The market is going up. We can hedge but make hay while the sun shines.

Be sure to join me during our last Q&A for 2016. Be sure to join me today at 2:00 p.m. EST for the live Q&A in the Chat Room. If you can't join me live, you can email your questions to support@tradingwithcody.com (or just hit reply on this email), and I'll be sure to get them answered.


This article was written by Cody Willard for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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